Abstract: An apparatus and method for collecting a large volume of blood from an umbilical cord in a sterile environment are shown and described. A housing having an inner region adapted to retain an umbilical cord in a desired location is provided, the housing having an opening through which the cord extends from the inner region of the housing to a region external to the housing. The cord is cut by a blade coupled to the housing, either by the motion of the blade from a first position to a second position, or by the movement of two portions of the housing from a first extended position to a second collapsed position. The newly cut end of the umbilical cord falls and hangs freely in the inner region of the housing, blood flowing from the placenta and umbilical cord via gravity into a blood collection region of the housing. The blood collection region may be flexible, and may be coupled to a conventional blood collection bag.